Brady Bunte – Business Equipment Financing – During COVID-19
NEWPORT BEACH, CA, UNITED STATES, May 20, 2020 /EINPresswire.com/ — For those of us that have been around long enough in business to experience what banks do during a financial crisis this has all been very predictable. I have been in the financial industry for 33+ years and I could feel the tightening coming before it happened!
Brady Bunte says that watching the media on TV can be very misleading (“Fake News”) now days and dangerous for those that are most in need. You first get the impression that the Government is pushing funds into the economy and that you and your business will be saved by stimulus programs provided by the government / the SBA. Although the Gov’t may be working at getting stimulus funds out to business owners and citizens, by the time is gets out to the public the banks have already started to tighten up on lending. The bottom line is that banks cannot fully rely on the Gov’t to bail them out and cover their losses, so the banks actually tighten up rather than loosen up. Bank CEO’s need to answer to the Bank Board of Directors and stockholders, banks simply cannot make bad loans that are not likely to perform. With 80% of all businesses closed during the COVID-19 crisis how can the bank expect all loans to perform? The banks have no choice but to tighten the underwriting guidelines to make sure the money they lend is likely and able to make the payments as agreed.
While all this stimulus talk was going on and congress fighting over COVID-19 non-related funding’s, as they should, the banks started eliminating easy qualifying programs and tightening the guidelines.
Brady Bunte has been through these financial crisis market cycles before so he has the experience to advises his clients not to fall into the trap of waiting to see what the Gov’t & SBA will do, time is of the essence! While most business owners were and are still waiting to see what they can get for relief, that waiting may cost them getting a loan that they may desperately need. Business owners right now should be focused on getting a traditional loan NOW before the door to lending completely closes.
IFinancial Group has been in business over 28 years and is still actively lending today and closing business loans with very aggressive rates and terms. If you don’t focus on getting your business financing done now because you are waiting on the SBA or Gov’t stimulus you may not be able to get a loan tomorrow!
So, if you’re looking for any type of business-related financing to acquire equipment its best that you contact Brady Bunte at IFinancial Group.
Source: EIN Presswire